Life & Health Insurance/insurance


My mom had a life insurance policy for my dad through loco credit union in new mexico, my mom died in 2006, and my sister continued to pay for a couple more years then she had a stroke, and stopped paying. It was only like 20 dollars a month but my mom paid it for years. My question is are we entitled to anything? what happens to all that money that was paid. my dad is still living, please help, we sure could use some money

Firstly, Sorry for the loss of your mom and I apologize for the slow response. Your best bet is to contact the credit union that issued the policy.  If no premium payment has been made the policy most likely has lapsed or expired. Some types of policies generate a thing called "cash value" over the years which would automatically be used to keep the policy in force in the event payments stopped. As for all the past money that was paid...that served to keep the policy in force in the event your father did pass away. Sorry I could not offer more help. Ask the credit union: if the policy is in force (you will at least need policy number)/if so what type of policy it is/and if there is any cash surrender value. Good luck and feel free to ask any other questions.

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Sergio Franco


Area of expertise is Senior Life Settlements and Viatical settlements. I can assist advisers in qualifying clients for these type of transactions. I can assist policyholders to determine if they are an appropriate candidate for these transactions and I can assist consumers if they are approached to invest in these type of transactions.


I am the Director of New Business for Performa Corp a boutique Life Settlement brokerage located in south Florida.

Agent Sales Journal, California Broker Magazine

AA Liberal Arts BS Finance Management 10 yrs US Army Finance Officer
Life Licensed in State of Florida

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